Proton Holdings acquires engine technologies from Petronas

The New Straits Times reported that national car company Proton Holdings Berhad bought all the engine technologies and knowledge developed by Malaysia’s Petronas for MYR63 million (US$20.5 million). The purchase allows Proton Holdings to use the engines in its cars. “Proton and Petronas initiated the engine technology exploration in 1996. So, it is time now to take over from Petronas, since the company decided in 2010, to exit completely from all engine development activities,” said Chairman Datuk Seri Khamil Jamil. He added that his company, “through Perusahaan Otomobil Nasional Sdn Bhd, is taking over seven engine technologies with 117 technology patents from Petronas.” The acquisition of the technologies was coursed through Petronas’ technology commercialization arm, Petronas Technology Ventures Sdn Bhd. (December 11, 2012)